2019 Economic Predictions

The year is well underway and with it comes economic predictions that focus on the remainder of the year. This includes current trends for the global economy and one that is expected to drop as a leading economy. It is expected that global growth will remain slow. While it enjoyed a boom of sorts after many of the world’s economies picked up near the end of 2016 that is now over. As we entered 2019, most of the G7 economies began to return to growth rates that were more inline with long-term growth histories.

The U.S economy is expected to drop as interest rates are increased and the high dollar continues to be a burden on net exports. The anticipated growth, which 2.8% in 2018, is expected to drop to 2.3% in 2019. The Eurozone is also expecting to see uncertainty as trade issues escalate and tensions grow relating to Brexit. It is expected that the European Central Bank will likely offer less support due to it ending its policy on quantitative easing.

Another economy facing declining growth is China. While the Chinese government will aggressively attempt to keep the slowdown to a minimum, the added tariffs by the U.S and China’s control of debt levels will result in its growth decelerating in 2019.

Additionally, the U.S dollar is expected to have an impact, at least a potential impact, on emerging market currencies. However, this is most likely to be seen in the latter part of the year. That will add fuel to the belief that the U.S economy is slowing and will overall, impact all other economies.

Economic Impact on Workers’ Wages

The reduction in growth will also see an impact on worker wages. That, in turn, will see those companies in labour markets will tighten salaries even if it sees more jobs being created. It could lead to increased wages for some as finding talent will become an issue. For many, that is good news, especially when it comes to recreational spending, often a deciding factor that spurs growth. One industry not expected to be impacted by economic reductions is sports betting. Its presence online has seen substantial growth throughout the world, and that is a direct result of sports betting information sites such as Efirbet.com, a leader in sportsbook affiliation. It draws attention to those that responsibly cater to this market through detailed, articulate and in-depth sportsbook reviews. While some unemployment rates will increase in markets such as Germany and the U.S, overall they are expected to remain low due to job creation.

Evidence of this has already been seen in Canada. The unemployment rate hit a 40 year low in 2017 going down to 5.8%. However, it has yet to drop any further, but it saw wages accelerating as the pools of available skilled workers dropped. Other economies such as Belgium, Denmark and the Netherlands also are experiencing similar situations as Canada, and the U.K may see its levels at current levels as well.

2019 Trade Conflicts

It is expected that trade conflicts will continue to be an issue. This will only add to the uncertainty for businesses and policymakers. Business owners will need to deal with the impact of inflation, growth and tariffs while trying to determine how that will impact their customers and respective supply chains.

However, that being said, the main focus of creating those tensions is those between the United States and China. The risk of it escalating into a broader conflict is very real, and those in business will need to factor this into their business plan to allow for different scenarios.

United Kingdom expected to drop in world economy rankings

The United Kingdom, which is recorded at the fifth largest economy by the International Monetary fund in relation to the U.S dollar, is forecasting that it is likely to fall behind two other economies. This includes France and India and India might remain permanent. That is due to its being one of the fastest growing economies in the world. Its sheer size in population also offers favourable demographics that could see it catch up and surpass that of the U.K

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